The Central Bank of Nigeria (CBN) has said the old N200, N500 and N1000 notes remain legal tender until December 31, 2023 as ruled by the Supreme Court. This was announced in a statement on Monday by the CBN spokesperson, Isa Abdulmumin.The statement reads: “In compliance with the established tradition of obedience to court orders … Read more
There has surface video, documents where the Central Bank of Nigeria earlier directs the commercial banks to start accepting the old N500 and N1,000 notes from the people. With the directives from the CBN, commercial banks have started issuing notices of acceptance of the old notes to the tune of N500,000 below to their customers. … Read more
There is confusion as the Central Bank of Nigeria (CBN) refuted news report quoting a source in the bank as saying that the apex bank has ordered commercial banks to start accepting the old N500 and N1,000 banknotes. The central Bank in a statement on Friday evening while debunking the news said it was fake … Read more
The Central Bank of Nigeria (CBN) has asked banks to start collecting old N500 and N1,000 notes from customers. This was disclosed on Friday by the CBN spokesman, Osita Nwanisobi, stating that any amount above N500,000 could not be deposited. The development comes amid the nationwide outrage over the rejection of the notes which President … Read more
The Central Bank of Nigeria (CBN) has declared that the old naira notes of N200, N500, N1000 are no longer legal tender in the country. The CBN declared that the old notes ceased being legal tender in Nigeria on Friday, February 10, 2023. This was declared by the CBN Branch Controller in Bauchi, Haladu Idris … Read more
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that there was no need to shift the February 10, 2023 deadline. Emefiele during a visit on Tuesday to the Ministry of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank, declared there was no need to shift deadline. … Read more
The National Council of State at the end of its hybrid meeting on Friday has tasked the central bank of Nigeria (CBN) to print and make available the new naira notes for the masses or recirculate the old notes. The Council of State, though, backed the Federal Government’s new monetary policy but tasked the Central … Read more
With few days to the deadline for Naira swap by Central Bank of Nigeria (CBN), the Supreme Court on Wednesday temporarily stopped the withdrawal of old naira notes from February 10. A seven-member panel led by Justice John Okoro, halted the move in a ruling in an exparte application brought by three northern states of … Read more
As the cash crunch continues to bite harder across the country, the Central Bank of Nigeria (CBN) has directed commercial banks to commence the payment of the new Naira notes over the counter. This move according to the CBN is to reduce the sufferings Nigerians go through daily to get cash for business transactions. The … Read more
… Urges FG to address issues of insecurity, fuel scarcity, others … Youth group enjoins INEC to tighten up loose ends ahead of general elections The National Youth Council of Nigeria (NYCN), South-West zone on Tuesday decried the state of the nation and called on the Federal Government to address the issues of insecurity, fuel … Read more
